Finance Support Services (Finance Advisory) Sefton Council Housing Development (DevCo)

Sefton is an ambitious Metropolitan Borough and part of the Liverpool City Region, the Housing Development DevCo project (DevCo.) sits at the heart of our ambition and spans both Public Sector Reform and Growth programmes.

We recognise that: • The Sefton Local Plan identifies 11k housing units (all types and classifications) to be built at a rate of circa 650 units per year; • The private and third sector already operate and provide housing at all levels, however supply is in shortfall currently (because of an inadequate supply of land, which the Local Plan will unlock); • Where the Council does elect to lead, develop and deliver housing it will do so with due consideration to each community effecting and after significant appraisal and in consultation with communities.

With so much housing demand across the Borough we must act appropriately, considerately, creating pathways and opportunities for our families, our youngest and eldest.

The Council faces funding pressures which threaten its ability to provide essential front line public services.

It must find new ways of generating funding streams to help continue to deliver essential services, the DevCo will aid this.

There are several options, forms and DevCo types that the DevCo could take.

The scope currently is limited to a housing development DevCo that will provide housing for sale, transfer or lease depending on the final approved business plan and approved operating model.

The Council therefore will create an entity that acts as what is referred to as a wholly owned DevCo (or WoC).

The Council therefore seeks through this procurement exercise, appropriate Financial Advice.